The York Water Company (NASDAQ:YORW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “
Shares of The York Water Company (NASDAQ:YORW) traded up 2.48% during trading on Wednesday, hitting $37.20. The stock had a trading volume of 22,288 shares. The stock has a market capitalization of $477.69 million, a P/E ratio of 38.43 and a beta of 0.55. The York Water Company has a 12-month low of $23.79 and a 12-month high of $39.85. The stock’s 50-day moving average is $37.70 and its 200-day moving average is $31.94.
The York Water Company (NASDAQ:YORW) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The York Water Company had a return on equity of 11.17% and a net margin of 26.25%. The business had revenue of $12.60 million for the quarter, compared to the consensus estimate of $12.50 million. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts predict that The York Water Company will post $0.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.1602 per share. The ex-dividend date is Wednesday, December 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.77%. This is a boost from The York Water Company’s previous quarterly dividend of $0.16. The York Water Company’s dividend payout ratio (DPR) is presently 66.67%.
COPYRIGHT VIOLATION NOTICE: This report was first posted by BBNS and is the propert of of BBNS. If you are reading this report on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The legal version of this report can be viewed at https://baseballnewssource.com/markets/the-york-water-company-yorw-cut-to-hold-at-zacks-investment-research/345561.html.
A number of institutional investors have recently bought and sold shares of YORW. Strs Ohio boosted its position in The York Water Company by 6.1% in the second quarter. Strs Ohio now owns 22,500 shares of the company’s stock worth $720,000 after buying an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of The York Water Company by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 123,414 shares of the company’s stock worth $3,954,000 after buying an additional 5,965 shares in the last quarter. Swiss National Bank purchased a new stake in shares of The York Water Company during the second quarter worth about $567,000. California Public Employees Retirement System boosted its stake in shares of The York Water Company by 22.9% in the second quarter. California Public Employees Retirement System now owns 25,200 shares of the company’s stock worth $807,000 after buying an additional 4,700 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of The York Water Company during the second quarter worth about $211,000. Institutional investors and hedge funds own 31.12% of the company’s stock.
The York Water Company Company Profile
The York Water Company is an investor-owned water utility. The Company impounds, purifies and distributes water. The Company owns and operates approximately two wastewater collection and treatment systems. It operates within its franchised territory, which covers over 40 municipalities within York County, Pennsylvania and over nine municipalities within Adams County, Pennsylvania.
Receive News & Ratings for The York Water Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The York Water Company and related companies with our FREE daily email newsletter.